CEO of a California-based asset management firm has long been unacceptable to the US Securities and Exchange Commission Bitcoin ETFHe claims that he has found a u clever ’way of imposing his‘ iddia.
One of the first ETFs to follow the Blockchain market Reality Sharesrecently filed an application for a currency fund to include indirectly the impact of Bitcoin futures. If the application is approved by the SEC, this product may go down in history as the first fund to have a direct relationship with the crypto money market. The fund will be listed in the NYSE Arca, run by the New York Stock Exchange.
According to the application of the Fund to the SEC, the ETF göre offers direct investment opportunities to various assets consisting of both nominal and virtual currencies Fon. Since the Fund includes various currencies, it offers only 15% investment opportunities to Bitcoin futures on CBOE and CME platforms, and it will be possible to invest in Bitcoin futures on other platforms later on. In addition, the fund offers investment in Pound, Yen, Frank and money funds.
In his statement on the matter, Eric Ervin, CEO of Reality Shares, stated that the SEC did not want to approve a mak complete crypto ETF ”and therefore had only about 15% exposure to its own applications. The SEC has rejected previously filed applications, in particular for market manipulation and consumer confidence, and this project, which is on the new agenda, may indeed open the door of the Bitcoin ETF.
The California Asset Management Firm Has Been in Clever ’A Bitcoin ETF Application! Ali Emre KONAKÇI is the author of the article and published on koinbulteni.com.